Payments NEXT • November 21 2023

Will Black Friday and 2023 holiday sales be in the black?

With Black Friday imminent, we’ve got a rundown of predictions for the 2023 holiday shopping season kickoff from US retail analysts and research groups. Overall, projections are encouraging, with new record-level sales up from 2% to 4% over last year.

The National Retail Federation (NRF) expects record sales to increase by 3% to 4% over 2022, reaching nearly $966.6 billion through the holiday season.

“It is not surprising to see holiday sales growth returning to pre-pandemic levels,” NRF Presi

Payments NEXT • September 22 2021

Global CNP fraud hits 13%, costs to merchants rising fast

A 15-month research study by global payments provider Vesta shows that from 10% to as many as 13% of card-not-present (CNP), online transactions may be fraudulent.

Coupled with annual e-commerce growth of 32.4% in the US and 27.6% globally, the result is tens of millions of dollars of lost revenue by fraud, the cost of chargebacks, and impact on company reputation and future consumer business.

Between January 1, 2020, and March 31, 2021, Vesta tracked transactions globally by merchants on its

Payments NEXT • June 24 2021

Consumers in hardship programs made payments during Covid

The pandemic imposed terrible health and financial hardships on consumers everywhere, with an estimated 7.48% of US mortgage accounts in “hardship status” by May 2020. Just two months earlier, in March 2020, before the full impact of Covid-19, mortgage accounts in trouble were only 0.48%.

Similarly, car loans in trouble jumped from 0.64% in March 2020 to 7.04% in May 2021, while credit card accounts in hardship increased from 0.01% to 3.73%, along with unsecured personal loans from 1.56% to 6.1

Payments NEXT • January 24 2020

NYC bans cashless-only payments in stores and restaurants

New York City, the country’s largest, became the third US city to banish cashless-only transactions following similar bans in San Francisco and Philadelphia as well as the ban imposed by the state of New Jersey.

Critics have long claimed cashless-only transactions disadvantage the poor, the un-banked, and those without digital resources.

The New York ban was originally proposed in 2018 by NYC councilor Ritchie Torres and now goes to Mayor Bill de Blasio’s office for final signoff.

The new law

Payments NEXT • October 17 2019

Research: What Gen Z wants is not their father’s bank

Let’s start with what Gen Z and younger consumers want from their banks. They want digital, mobile, and instant banking services. In other words, not their dad’s bank.

What they’ve got right now from an entrenched banking system is too much paperwork, too many off-line interactions, and a lack of digital banking services that meet their needs and expectations.

82% will switch for better digital

One of the key findings from a recent survey by Lightico is that 82% of these young bank customers

September 9 2019

Target circles back to cashback rewards for customers – Cashback Industry News

Target is revamping its customer loyalty program and will launch Target Circle, a free nationwide loyalty program that gives shoppers personalized deals and supports local non-profit organizations.

The new loyalty program will launch in October and gives customers a 1% cashback reward on every purchase which they can spend on future Target shopping. “Our goal is to motivate all guests to choose Target more often by providing meaningful benefits,” said Target’s chief marketing and digital office

Payments NEXT • September 2 2019

US drunk shoppers spent $39.4 billion in 2018

It’s Labor Day, so we thought we’d keep things a little lighter than usual here on Payments NEXT.

This just in. Americans have got the message about the dangers of drunk driving, but apparently, they missed the memo about drunk shopping. Recent research shows that boozing buyers spent $39.4 billion shopping in 2018 while under the influence in-store and online.

In the latest Drunk Shopping Survey from finder.com, 26% of Americans admit to shopping while drunk. That’s 53.4 million shoppers stum

Payments NEXT • July 16 2019

EBANX sees growth and opportunity in Latin America

Put aside any preconceived ideas or misconceptions about e-commerce in Latin America. E-commerce in the region is growing at 25% to 30% and past barriers to doing business and handling payments are fast disappearing with the growth of e-commerce, mobile adoption, new payments options, and improvements in logistics.

“E-commerce — including everything from retail to travel and digital goods — is growing at a pace of 25% to 30% per year in Latin America, and there are no signs of it slowing, as th

Blockcoin Today • May 21 2019

US Copyright Office says Craig Wright claims he is Satoshi Nakamoto

US Copyright Office says Craig Wright claims he is Satoshi Nakamoto

With the April 11, 2019, US copyright registration no. TXu 2-136-996, the US Copyright Office said that Australian Dr. Craig Wright claims he is Satoshi Nakamoto.

The registration covers the paper entitled “Bitcoin: A Peer-to-Peer Electronic Cash System” created in 2008 and published in 2009 anonymously by Satoshi Nakamoto, whose identity has never been before, confirmed.

The copyright registration claims the author as Craig

Blockcoin Today • December 14 2018

Buy a brick, build Trump’s Wall with bitcoin

It’s bad enough that bitcoin is being used for a bunch of fake bomb threats across the US and Canada today.

Now, Republican Congressman Warren ‘Crypto’ Davidson would like Americans, and maybe Mexicans, to “Buy a Brick, Build a Wall” with bitcoin.

This could take government services and crowdfunding to a new level. It could even be used to avoid a shutdown, couldn’t it?

In an NPR radio interview with host Steve Inskeep, Davidson outlined his ‘off-the-wall‘ new funding strategy for US border s

Blockcoin Today • December 6 2018

End of year cryptocurrency tax challenges: What to do?

End of year cryptocurrency tax challenges: What to do?

About the only good news from the year-long crash in cryptocurrency values is the potential to offset losses against other tax liabilities for investors.

This creates several critical tax challenges and choices for digital currency holders and traders alike according to NODE40, creator of the Balance cryptocurrency reporting software.

“It is clear that, with the huge falls in cryptocurrency markets during 2018, many people will be weighin

Blockcoin Today • November 30 2018

SEC knocks out two celebrity ICO endorsers

The Securities and Exchange Commission (SEC) settled charges against professional boxer Floyd Mayweather Jr and music producer DJ Khaled for failing to disclose payments they received for illegally promoting investments in Initial Coin Offerings (ICOs).

Mayweather agreed to pay $300,000 in disgorgement, a $300,000 penalty, and $14,775 in prejudgment interest. DJ Khaled agreed to $50,000 in disgorgement, a $100,000 penalty, and $2,725 in prejudgment interest.

“These cases highlight the importan

Payments NEXT • September 7 2018

Amazon Pay says Kon’nichiwa to Japanese cashless payments market

In Japan, 80% of consumers pay for transactions with cash.

That’s why Amazon Japan’s decision to introduce Amazon Pay in partnership with startup Nippon Pay shows they are in the cashless payments market for the long term.

With only 20% of Japanese consumers using other forms of payments than cash, there’s a lot of education, marketing, and social hurdles before consumers embrace new cashless forms of payment.

With a smartphone and Amazon.com app, consumers display a QR code when they’re read

Blockcoin Today • September 3 2018

British artist Townley crazy for crypto sales

Michael Caine calls British artist Lincoln Townley “the next Andy Warhol” and his collectors include a Who’s Who in the entertainment and sports world such as Al Pacino, Sting, Ewan McGregor, and professional soccer star Ronaldinho.

Townley is also proving to be a savvy digital marketer who recently sold an entire new collection for cryptocurrency on social media over just one weekend.

Based in London and Los Angeles, he was repeatedly rejected by the traditional conservative art establishment

Blockcoin Today • August 22 2018

Volareo smart speaker will enable crypto micro-payments to artists

Look out Google Home and Amazon Echo

Volareo and blockchain startup Emanate are collaborating on a new smart speaker that will pay musicians almost in real-time as their music is consumed on the new high-tech smart speaker which will ship in January 2019.

Based in Rotterdam, Volareo will produce a smart voice speaker that streams music, videos, podcasts, makes voice calls, buys crypto and plans more features in the future.

Sydney Australia-based Emanate is a new blockchain technology startup

Payments NEXT • August 9 2018

Safelite launches same-day car insurance payment claims service

Instead of taking days or weeks to pay out non-glass insurance claims, a new service from Safelite Solutions and Ingo Money could pay accident claimants within hours.

Safelite Solutions SVP of Strategic Client Sales & Support Jon Cardi said in a PYMNTS.com interview, “This is a total disruption within the insurance industry.”

Immediately after an accident loss, customers use a mobile app to take and upload photos and video of the damage. Within an hour, they will receive a repair estimate for

Payments NEXT • June 23 2018

Ashley Madison dating site offers unique, anonymous payment solution

What you do when you want to pay anonymously for services like discreet dating sites, VPN, email, and other online services or you want to protect your identity?

Whatever you think of Ashley Madison, the dating site for married people, you’ve got to admit they offer a unique payment option.

With a tagline of “Life is short. Have an affair.” you can be sure members are keen to protect their anonymity.

Wayward married members of the ultra-confidential site for discreet encounters can pay their

February 16 2018

Walmart seeks piece of Flipkart and India market share – Cashback Industry News

Walmart is talking to India’s biggest e-commerce operator Flipkart about acquiring a 40% stake and a direct challenge to Amazon in Asia’s third-largest consumer market.

Walmart has been unable to enter the Indian market effectively, operating only 21 cash and carry wholesale stores now because of tough laws protecting India’s retailers.

Amazon picked up a $27.6 million stake in Indian retailer Shopper’s Stop Ltd to bolster its estimated $467 million e-commerce business in India.

Flipkart is I

October 30 2017

Amazon competitors – watch your niches | Cashback Industry News

There’s one hard lesson that Amazon competitors have learned. That is, once your niche grows big enough on the Amazon e-commerce site, you may become a target for Amazon to introduce its own house brand to compete directly in your niche.

For example, Amazon is talking with Taiwanese clothing manufacturers to produce samples for a new brand of activewear designed to compete directly with big players like Under Armour, Lululemon and Nike. In direct competition with Walmart and Target private labe

August 12 2017

Cashback News: Who's using cashback strategies for success? | Cashback Industry News

Cashback for consumers is still one of the most effective promotional strategies in the marketers’ toolbox. We’ve got an update on the latest cashback programs, companies and how they’re wooing consumers to buy.

Quidco CEO Andy Oldham outlines how cashback can build business online and in bricks-and-mortar stores. Scotiabank launches Apple Pay with a 10% cashback program for Canadian consumers. American Express cardholders will earn double cashback rewards on its Small Business Saturday promoti

May 16 2017

What's the 2017 State of Cashback Programs and Retail ROI? | Cashback Industry News

It’s been nearly two years since we published the industry’s first in-depth look at the global cashback industry. The 2015 Cashback Industry Report profiled the industry’s leaders. It brought together current research on cashback and promotion marketing, and helped establish the size of the industry at more than $80 billion at the time.

A new report from RetailMeNot provides a fresh perspective of what consumers want from digital and cashback rebates today. It also offers several case studies o

Cashback Industry News • February 4 2016

Cashback News – Feb 4: 10 Things you didn’t know about cashback

As publishers of the 2015 Cashback Industry Report, our research uncovered an industry poised to grow globally, hand-in-hand with the boom in e-commerce.

We profiled 234 of the world’s largest cashback companies including market leaders such as Quidco, TopCashback, Ominto, RetailMeNot, Flipkart, Snapdeal, Cashkaro and many more.

We also gained some fascinating insight into current research and the need for further investigation into the marketplace. That led us to launch the Cashback Industry

Cashback Industry News • November 27 2015

Cashback News – Nov 27: Cashback and credit cards overview – Chase, TSB, Nationwide, Amex, more…

It’s Black Friday today, so to help you get the most out of your discount shopping, we look at cashback credit cards in markets around the world and compare their appeal to consumers.

An estimated 2 million UK bank customers switch accounts, some in response to cashback promotions. Chase Freedom® cardholders will get 10% cashback on their holiday shopping on Amazon purchases to the end of the year with a new promotion launched by the NY bank. In the UK, TSB launches a 5% holiday cashback progra

Medium • September 28 2014

Seth Godin, Lao-Tzu, me and the internet

I guess I’m in a metaphysical mood today. Thinking about writing for the internet, how it’s different and finding your own style.

Seth Godin says, “I’ll have a Purple Cow.” I say, in my best Homer Simpson salutation, “Beer me.” Lao-Tzu says, “Ommmmm.”

Except I’m not a bald guy and I don’t wear saffron like either of these wise men.

Writing for the internet is a challenge

That said, this is a post about writing short. Writing tight. Writing meaningfully and writing with purpose.

Using action